How Event Organizers Maximize Profit and Brand Recognition
The pitfalls of ticket platforms: when advertising becomes a double-edged sword
Modern event organizers frequently grapple with a dilemma: whether to showcase their events on ticket operators to attract random visitors or sell tickets directly on their websites. At first glance, exposing events through ticket platforms seems like a strategic move. However, this method can turn into a trap, leading clients away from the organizer’s business.
Customer loss: when advertised events turn into potential buyer attrition
Many organizers believe that featuring their events on ticket platforms will attract new customers. While this may be true in some instances, especially when the ticket operator is a regional opinion leader, the organizer’s promotional efforts can have a counterproductive effect. Customers initially drawn by the organizer’s advertisements might swiftly navigate away to explore other events on the ticket platform. The result? A loss of clients who initially came through the organizer’s advertising.
Brand and Trust: direct sales as an investment in reputation
Showcasing tickets on external platforms, ticket operators, and websites can impact the brand perception of the organizer. When a customer sees an event on a ticket operator’s platform, a portion of the trust built around the organizer and artist shifts to that ticket operator. This is trust painstakingly built by the organizer and artist over time. On the contrary, selling tickets directly on the organizer’s website creates a direct connection, strengthening trust and brand recognition.
By utilizing the features of ArenaSoldOut.com, you can not only list tickets for sale on your website but also connect with various partners, bloggers, event posters, Telegram channels, etc.
Search visibility: direct sales vs ticket operator advertising
In the battle for user attention in search engines, organizers face a tough choice: advertise their site directly or pay for advertisement on ticket operators’ webpages.
Direct sales on an organizer’s site not only enhance the search visibility of the organizer but also reduce unnecessary clicks for the target audience. In internet marketing, each additional click may lead to customer loss, and studies indicate that an average of up to 20% of potential buyers is lost with each additional click, thus diminishing the effectiveness of advertising campaigns.
Financial risks: Ticket operators vs Direct sales
Let’s delve into the financial aspects related to ticket operators accepting money for sold tickets. This practice is not without risks and can have adverse consequences for event organizers.
- Delay in receiving funds:
Ticket operators, by accepting money for sold tickets into their accounts, create a situation where organizers do not receive funds immediately. This affects the financial flow of the organizer, making them dependent on the timelines set by the ticket operator for payouts. Delays in fund receipt can pose a challenge, especially in situations where organizers require prompt funding for event preparation and execution.
- Risks of financial issues with ticket operators and platforms:
Ticket systems are not banks and are not regulated as banks. They are not obligated to maintain mandatory fund reserves, presenting a potential financial risk for organizers. In the event of financial difficulties or a cash flow disruption with the ticket operator, organizers may face delays in receiving funds or, in some cases, may never receive them.
Risks of this type can significantly impact the financial health of event organizers, making direct sales on their websites and collaboration with platforms facilitating direct fund receipt more preferable options for ensuring financial stability and minimizing risks.
Direct sales – the path to financial success and brand recognition
It becomes evident that direct sales on an organizer’s website often prove to be more advantageous. Organizers minimize client losses, invest in their reputation, creating strong, long-term relationships with their audience. Partnering with professional ticket platforms like ArenaSoldOut.com allows organizers to elevate their business, providing direct access to revenue and fostering robust customer connections.